Given the data below:Units tested = 10One failure occurred at 10,000 hoursAnother failure occurred at 25,000 hoursTwo more failures occurred at 45,000 hoursThe remaining units were still running at 60,000 hours
To find out the percentage of failures:Percentage of failures can be calculated as follows Percentage of failures = (Number of failed units/Total number of units) × 100%Number of failed units = 1 + 1 + 2 = 4Total number of units = 10Percentage of failures = (4/10) × 100% = 40%
Therefore, the percentage of failures is 40%.To find out the number of failures per unit-hour of operating time:For calculating the number of failures per unit-hour of operating time, we use the following formula:Number of failures per unit-hour of operating time = (Total number of failures) / (Total time of testing)
Total number of failures = 1 + 1 + 2 = 4Total time of testing = 60,000 hours - 0 hours (All units tested) = 60,000 hoursTherefore,Number of failures per unit-hour of operating time = (4) / (60,000) = 0.00006667Therefore, the number of failures per unit-hour of operating time is 0.00006667.
To find out the MTBF at this point in the testing:For calculating the MTBF at this point in the testing, we use the following formula:MTBF = (Total time of testing) / (Number of failures)Total time of testing = 60,000 hours - 0 hours (All units tested) = 60,000 hoursNumber of failures = 1 + 1 + 2 = 4Therefore,MTBF = (60,000) / (4) = 15,000 hoursHence, the MTBF at this point in the testing is 15,000 hours.
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Daily high temperatures in St. Louis for the last week were as follows: 92, 92, 93, 94, 97, 88, 93 (yesterday). a) The high temperature for today using a 3-day moving average = 92.6 degrees (round your response to one decimal place). b) The high temperature for today using a 2-day moving average 90.5 degrees (round your response to one decimal place). c) The mean absolute deviation based on a 2-day moving average - degrees (round your response to one decimal pla
The mean absolute deviation based on a 2-day moving average is 4.42 degrees (round your response to one decimal).The answer is 4.42 degrees
a) To calculate the high temperature for today using a 3-day moving average, we need to take the average of the temperatures from yesterday and the two previous days. So, the calculation will be: (93+88+97)/3 = 92.6 degrees.
Therefore, the high temperature for today using a 3-day moving average = 92.6 degrees (round your response to one decimal place). b) To calculate the high temperature for today using a 2-day moving average, we need to take the average of the temperatures from yesterday and the day before yesterday.
So, the calculation will be: (93+88)/2 = 90.5 degrees. Therefore, the high temperature for today using a 2-day moving average 90.5 degrees (round your response to one decimal place). c) Mean absolute deviation (MAD) is a measure of variability that is calculated by taking the average of the absolute deviations of a set of data.
To calculate the MAD based on a 2-day moving average, we first need to find the deviations of each temperature from the 2-day moving average. Then, we take the absolute values of these deviations, and finally, we find the average of these absolute deviations.
So, the calculation will be: |(92-90.5)|+|(93-90.5)|+|(88-90.5)|+|(97-92.5)|+|(94-95.5)|+|(93-95.5)| = 26.5. And 26.5/6 = 4.42 degrees. Therefore, the mean absolute deviation based on a 2-day moving average is 4.42 degrees (round your response to one decimal).
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Discuss the relationship that exists amongst the three short-run total cost curves. Motivate your answer with the aid of a diagram. (15)
The relationship that exists amongst the three short-run total cost curves is described below:Short-run Total Cost Curves: In the short run, a company can not change all of its inputs to a different level, so the short-run cost curves represent the company's changing expense as it changes the amount of one input while holding all others constant.
A firm's short-run cost curves can be broken down into three types: the total cost curve, the average variable cost curve, and the average fixed cost curve. The sum of average fixed cost and average variable cost is the average total cost.Short-run Total Cost Curves have the following features:The average variable cost curve and the marginal cost curve intersect at the minimum average variable cost point.The average fixed cost curve decreases with output, implying that it becomes less and less important as output rises. When a company raises production beyond the level that corresponds to the minimum average variable cost point, it must begin to utilize its fixed inputs more heavily, resulting in increasing average fixed costs.The short-run total cost curve initially decreases with increased output before reaching a minimum and then rising at an increasing rate with more output.Diagram:The short-run total cost curve is depicted in the following diagram. As we can see, the short-run total cost curve rises at an increasing rate with increased output, implying that each incremental unit of production costs more to create than the last, indicating diminishing marginal returns. Therefore, in the diagram, we have the Average Total Cost (ATC) curve above the Average Variable Cost (AVC) curve and the Average Fixed Cost (AFC) curve decreasing with increased output.
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Which of the following is correct research sequence ?
O Select Topic, Identify the Broad Area, Collect Information, Analyze Data O Identify the broad Area, Select Topic, Present Findings, Collect Information O Decide Approach, Analyze Data, Formulate Plan, Present Findings O Identify the broad Area, Select Topic, Decide Approach, Formulate Plan
The correct research sequence is to identify the broad area, select the topic, decide the approach, and formulate the plan. This is because research is a systematic process that requires a clear roadmap.
Here is a breakdown of each step in the correct research sequence:
Identify the Broad Area: Before selecting a research topic, it is important to identify the broad area of interest. This can help you narrow down your focus and choose a topic that is both relevant and feasible.
Select Topic: Once you have identified the broad area, you can select a specific research topic that aligns with your interests and expertise. It is important to choose a topic that is well-defined and researchable.
Decide Approach: After selecting a research topic, you need to decide on the approach you will take to conduct your research. This involves choosing a methodology, identifying research methods and techniques, and designing your study.
Formulate Plan: Finally, you need to formulate a research plan that outlines the steps you will take to conduct your study. This involves creating a timeline, setting goals and objectives, and identifying the resources you will need to complete your research.
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Acme Co. is planning an advertising campaign for their new product. Three commercials have been produced and are ready to air. The costs of airing one commercial during different timeslots of the day are listed in the following table. Acme Co. wants each of the three commercials to air on two different timeslots. In addition, the company does not want all three commercials to air during the same timeslot. Develop a linear programming model to minimize the marketing cost while meeting the requirements above.
Timeslots
Commercials
Daytime
Evening
Late Night
Ad-1
200
650
600
Ad-2
500
420
350
Ad-3
400
700
450
The table below shows the costs of airing one commercial during different timeslots of the day. Timeslots Commercials Daytime Evening Late Night Ad-1200 650 600 Ad-2500 420 350 Ad-3400 700 450.
The objective is to minimize the cost of advertising while meeting the following requirements:
All three commercials must air on two different timeslots. Each commercial must air only once per timeslot. According to this, the first step to developing a linear programming model is to define the decision variables. Since each commercial must air on two different timeslots, there will be six decision variables:
Three binary decision variables for each commercial representing whether they will air in a particular timeslot or not.xij, where i is the commercial and j is the timeslot. i = 1,2,3 ; j = 1,2,3
The second step is to formulate the objective function and constraints: Minimize:
Total Cost = 200(x11 + x12 + x13) + 650(x21 + x22 + x23) + 600(x31 + x32 + x33) + 500(x11 + x21 + x31) + 420(x12 + x22 + x32) + 350(x13 + x23) + 400(x11 + x21 + x31) + 700(x12 + x22 + x32) + 450(x13 + x23)
Subject to:x11 + x21 + x31 = 2 (Ad-1 must air in two timeslots)x12 + x22 + x32 = 2 (Ad-2 must air in two timeslots)
x13 + x23 = 2 (Ad-3 must air in two timeslots)x11 + x12 + x13 ≤ 2 (Only two commercials per timeslot)x21 + x22 + x23 ≤ 2 (Only two commercials per timeslot)x31 + x32 + x33 ≤ 2
(Only two commercials per timeslot)x11 + x21 + x31 ≤ 1 (Ad-1 can only air once in a particular timeslot)x12 + x22 + x32 ≤ 1 (Ad-2 can only air once in a particular timeslot)
x13 + x23 ≤ 1 (Ad-3 can only air once in a particular timeslot)x11 + x22 + x33 ≤ 1
(Ad-1 cannot air in the same timeslot as Ad-2 and Ad-3)x12 + x21 + x33 ≤ 1 (Ad-2 cannot air in the same timeslot as Ad-1 and Ad-3)x13 + x21 + x32 ≤ 1
(Ad-3 cannot air in the same timeslot as Ad-1 and Ad-2)xij ∈ {0,1} (Decision variables are binary)
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The comparative balance sheet of Iglesias Inc. for December 31, 20Y3 and 20Y2, is shown as follows:
1
Dec. 31, 20Y3
Dec. 31, 20Y2
2
Assets
3
Cash
$186,000.00
$180,000.00
4
Accounts receivable (net)
540,000.00
480,000.00
5
Inventories
924,000.00
900,000.00
6
Investments
0.00
120,000.00
7
Land
600,000.00
0.00
8
Equipment
1,680,000.00
1,440,000.00
9
Accumulated depreciation-equipment
(720,000.00)
(600,000.00)
10
Total assets
$3,210,000.00
$2,520,000.00
11
Liabilities and Stockholders’ Equity
12
Accounts payable
$408,000.00
$360,000.00
13
Accrued expenses payable
54,000.00
60,000.00
14
Dividends payable
36,000.00
30,000.00
15
Common stock, $4 par
840,000.00
720,000.00
16
Excess of paid-in capital over par
240,000.00
210,000.00
17
Retained earnings
1,632,000.00
1,140,000.00
18
Total liabilities and stockholders’ equity
$3,210,000.00
$2,520,000.00
Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows:
a. The investments were sold for $210,000 cash.
b. Equipment and land were acquired for cash.
c. There were no disposals of equipment during the year.
d. The common stock was issued for cash.
e. There was a $600,000 credit to Retained Earnings for net income.
f. There was a $108,000 debit to Retained Earnings for cash dividends declared.
Required:
Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required.
The statement of cash flows is prepared using the indirect method, which starts with net income and adjusts for non-cash items and changes in working capital.
Statement of Cash Flows (Indirect Method) for Iglesias Inc. for the year ended December 31, 20Y3:
Operating Activities:
Net Income: $600,000
Adjustments:
Add: Depreciation Expense - Equipment: $120,000
Changes in Operating Assets and Liabilities:
Increase in Accounts Receivable: $60,000
Increase in Inventories: $24,000
Increase in Accounts Payable: $48,000
Decrease in Accrued Expenses Payable: $6,000
Net Cash Provided by Operating Activities: $858,000
Investing Activities:
Sale of Investments: $210,000
Purchase of Equipment: ($240,000)
Purchase of Land: ($600,000)
Net Cash Used in Investing Activities: ($630,000)
Financing Activities:
Issuance of Common Stock: $120,000
Payment of Dividends: ($36,000)
Net Cash Provided by Financing Activities: $84,000
Net Increase in Cash: $312,000
The statement of cash flows is prepared using the indirect method, which starts with net income and adjusts for non-cash items and changes in working capital. In this case, net income for the year is $600,000. To calculate the cash flows from operating activities, adjustments are made for depreciation expense of $120,000, increases in accounts receivable and inventories, and changes in accounts payable and accrued expenses payable.
The investing activities section shows that investments were sold for $210,000, and equipment and land were purchased for cash, resulting in a net cash outflow of $630,000. The financing activities section includes the issuance of common stock for $120,000 and the payment of dividends amounting to $36,000, resulting in a net cash inflow of $84,000. Overall, there is a net increase in cash of $312,000, which is added to the beginning cash balance of $180,000 to arrive at the ending cash balance of $186,000.
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"SNS marketing is sometimes not a good strategical approach." When we explain this statement, one of the following may not be used. What is it? (2 points)
a. there is risk of copycat.
b. manufacturing capacity matters.
c. SNS users may experience information overload.
d. Sometimes, reaching critical mass too fast is not good.
SNS marketing can be problematic due to copycat risk, information overload for users, and the potential negative consequences of reaching critical mass too quickly. Manufacturing capacity is not relevant.
The statement that may not be used to explain why SNS marketing is sometimes not a good strategic approach is "b. manufacturing capacity matters." While manufacturing capacity is undoubtedly important for businesses operating in the physical goods industry, it is not directly related to the drawbacks of SNS marketing.
On the other hand, the remaining options can be used to support the statement. Firstly, "a. there is a risk of copycat" highlights the potential for competitors to imitate successful strategies, diluting a brand's uniqueness. Secondly, "c. SNS users may experience information overload" emphasizes the challenge of cutting through the noise and capturing users' attention in an oversaturated digital environment. Lastly, "d. Sometimes, reaching critical mass too fast is not good" suggests that rapid growth can strain resources, compromise quality, and hinder effective customer engagement.
In summary, while manufacturing capacity is not relevant, the other options support the statement by addressing issues such as copycat risk, information overload, and the potential pitfalls of rapid expansion.
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The table shows the amounts held as the various components of M1
and M2.
Question content area right
Part 1
Item
$billions
Non-chequable, non-personal deposits
375
Chequable dep
M1 and M2 are measures of the money supply in an economy. They consist of different types of money and financial assets that are widely used for transactions.
M1 includes the most liquid forms of money, which are easily accessible and can be used for immediate spending. It typically includes currency in circulation (actual physical cash) and demand deposits, which are funds held in checking accounts that can be readily accessed by writing checks or using debit cards.
M2 is a broader measure of the money supply and includes all the components of M1 along with additional types of money and near money. In addition to currency and demand deposits, M2 includes savings deposits, time deposits (such as certificates of deposit), and certain money market funds. These components of M2 are less liquid than the ones in M1 but can still be easily converted into cash or used for transactions.
The specific values for the components of M1 and M2 can vary over time and across different countries or economies. It is important for policymakers and economists to monitor the growth and composition of the money supply as it can have implications for inflation, interest rates, and overall economic activity.
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OBHR Case Study Presentation (20%)
Due: Weeks 2 - 10 before start of the class (on your assigned week, see appendix a)
Students will be assigned a case as per instructions below* and they will be prepared to play the role of consultants to a corporate executive in the case and present in front of the class (10-12 minutes of presentation). Issues will relate to the topics and readings of the syllabus posted. You are required to:
- summarize the key OBHR issues highlighted in the case-study,
- undertake some research (minimum 5 sources) in regard to the problem presented and provide your critical analysis on those OBHR issues/ problems as per your understanding of the course material by applying the principles/ concepts learned in the class, (for example, Amazon as a company is making remarkable financial success but as per the research it has been portrayed as a soul crushing employer. So how far the people management practices at Amazon are sustainable for its employer brand?).
-provide some industry comparisons (compare the OBHR issues highlighted with the best practices of another company in the similar industry with comparable business strategy, size and operations) and
- suggest suitable recommendations (4-5) with examples and illustrations from your understanding of the course acting as an OBHR consultant (for example, in continuation of the example provided above, provide recommendations on how Amazon can continue to sustain its employer brand by introducing some robust employee friendly policies and practices?).
You have been assigned to act as a consultant to a company executive in this OBHR case study presentation.
Your goal is to research this topic, analyze the key OBHR concerns raised in the case study, and provide a critical analysis based on the theories and ideas covered in the course. In addition, as an OBHR consultant, you must evaluate case study problems in light of industry best practices and make appropriate suggestions.
You must summarize the OBHR challenges of the case study, research from at least five sources, critically analyze the problems, make industry comparisons, and be well-supported to effectively complete the project Must offer a solution. Details on specific case studies, industries and backgrounds are not given as you will need to consult the assigned case studies and relevant research to satisfy the presentation requirements.
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____________________which means to support the decision to
undertake the project.
Sponsorship means to support the decision to undertake the project.
Project sponsorship involves a senior executive who provides direction, resources, and support to the project team.
The sponsor is responsible for ensuring that the project aligns with the strategic objectives of the organization and that the project team has access to the necessary resources to complete the project successfully.
In addition, the sponsor must ensure that the project remains on track and that the project team has the necessary support to overcome any obstacles that may arise. This includes working with the project manager to identify and manage risks and issues, as well as providing the necessary funding and resources to ensure that the project is completed on time and within budget.
In summary, project sponsorship is critical to the success of any project, as it provides the necessary support, resources, and guidance to the project team.
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Examine the challenges Nestle and Mah Sing faced during the pandemic?
Nestle and Mah Sing faced different challenges during the pandemic, but both were able to adapt and overcome these challenges by implementing safety measures, finding alternative suppliers and distribution channels, and revising their business strategies to meet the changing needs of their customers.
Nestle and Mah Sing are two companies that have experienced different challenges due to the pandemic. Nestle, a food and beverage company, experienced an increase in demand for its products, but also faced disruptions in its supply chain, while Mah Sing, a property development company, saw a decline in sales and disruptions in construction projects.
Nestle was able to quickly adapt to the pandemic by implementing safety measures to protect its employees and ensure the continuity of its operations. On the other hand, Mah Sing faced a decline in sales as people delayed property purchases due to the economic uncertainty caused by the pandemic. The company also faced disruptions in its construction projects due to lockdowns and a shortage of construction workers.
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Fair Oaks Farms’ expensive manure management system is one example of the use of their premium customer pricing margins to be viewed as a socially desirable company by their customers. This is most closely related to which source of competitive advantage?
Multiple Choice
Services must meet customers’ changing needs.
Quality must improve continually
Low costs help increase your sales
Do it better and faster.
Manage for globalization.
The scenario described suggests that Fair Oaks Farms is using its premium customer pricing margins to be viewed as a socially desirable company by their customers, thus correct option A).
This strategy aligns with the source of competitive advantage known as "Services must meet customers’ changing needs." By investing in an expensive manure management system, Fair Oaks Farms is demonstrating their commitment to environmental sustainability, which is likely to be valued by their customers. This aligns with the idea of providing services that meet customers' changing needs, as consumers are increasingly interested in supporting companies that prioritize social and environmental responsibility. While the other sources of competitive advantage may also be important for a company's success, they are not directly related to the use of premium pricing margins to enhance social desirability.
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A 15-year bond with a 6.40% coupon rate is priced at $1,090. Suppose you purchase this bond with the current price and hold it until the maturity, how much is your return? O 10% 07.2% 3.5% 06.4% 5.5%
A 15-year bond with a 6.40% coupon rate is priced at $1,090. If you purchase the bond at the current price of $1,090 and hold it until maturity, your rate of return will be 5.87%. The answer Is E.
Suppose you purchase this bond with the current price and hold it until the maturity, how much is your return?The given data can be used to determine the rate of return by utilizing the formula for current yield.Current Yield = Annual coupon / Current price.
Let's calculate the annual coupon using the given coupon rate and face value:Annual coupon = Coupon rate * Face valueAnnual coupon = 6.4% * $1,000 = $64Now, let's calculate the current yield using the given formula:Current Yield = $64 / $1,090 = 0.0587 = 5.87%.
Therefore, if you purchase the bond at the current price of $1,090 and hold it until maturity, your rate of return will be 5.87%. Thus, option (E) 5.5% is the correct answer.
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Determine the amount to be paid in full settlement of the invoice assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period.
Merchandise Freight paid by seller Freight terms Returns and Allowances
138,000 4,000 FOB shipping point, 2/10,Net30 27,000
Cash Discount:
A cash discount is offered by the seller to the customers to induce them to make payments for the credit sales within the discount period instead of waiting for the credit period to expire. The seller offers a certain discount if the customers pay within a specified discount period.
The amount to be paid in full settlement of the invoice assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period is $112,780.
A discount is an amount of money that a company gives to its customers under certain circumstances. There are 2 types of discounts in business: a trade discount and a cash discount.
A trade discount is when a company reduces the list price of a product. A cash discount, on the other hand, is when a company offers a discount to its customers to encourage them to make an early payment.
Discount = (Purchases - Returns) × Discount %
Discount = ($138,000 - $27,000) × 2%
Discount = $2,220
Net payment = Purchase - Returns - Discount + Shipping cost
Net payment = $138,000 - $27,000 - $2,220 + $4,000
Net payment = $112,780
So the amount to be paid in full settlement = $112,780
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If Ahmed’s wealth was calculated at the end of the month of Dhul-Hijah as follows:
Gold weighing 40 grams, gram price 50 riyals.
silver coins 1000 riyals
500 dinars, the exchange rate of the dinar 10 riyals
a current account with the Islamic Nation Bank of 6000 riyals
shares of 1000 shares, the market value of the share 5 riyals
an investment deposit with the Islamic Bank of Egypt 1500 riyals
investment certificates 2000 riyals
an amount in the savings book of 1000 riyals
and amount of 500 riyals cash
- What is the amount of zakat due by Ahmed?
Ahmed has already paid 97.5 riyals in zakat on his silver coins, which means his total zakat due is 502.5 riyals.
In order to calculate the amount of zakat due by Ahmed, we need to add up the value of all his assets that are eligible for zakat, which includes gold, silver coins, dinars, investment deposit, investment certificates, and cash. Then we need to subtract any outstanding debts or obligations.
The calculation steps are:
Gold = 40 grams x 50 riyals/gram = 2000 riyals
Silver coins = 1000 riyals
Dinars = 500 x 10 riyals/dinar = 5000 riyals
Shares = 1000 shares x 5 riyals/share = 5000 riyals
Investment deposit = 1500 riyals
Investment certificates = 2000 riyals
Savings account = 1000 riyals
Cash = 500 riyals
Total assets = 2000 + 1000 + 5000 + 5000 + 1500 + 2000 + 1000 + 500 = 15000 riyals
Zakat rate = 2.5%
Zakat due = 15000 x 2.5% = 375 riyals
However, Ahmed also has a current account with the Islamic Nation Bank, which means he has an outstanding debt. We subtract this from his total assets to get the net zakat-able assets:
Net zakat able assets = 15000 - 6000 = 9000 riyals
Zakat is due on net zakat able assets = 9000 x 2.5% = 225 riyals
Total zakat due = 375 + 225 = 600 riyals
However, Ahmed has already paid 97.5 riyals in zakat on his silver coins, which means his total zakat due is 502.5 riyals.
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Scenario:
You are the head(s) of the Canadian division for the following American company's:
Costco Canada
You, the new director(s) of the Canadian division, will be presenting an annual "Canadian Division" update for your CEO at the American headquarters. Since you are new to the role, this will be your first time meeting your CEO in person. This is a mandatory presentation that is delivered by the director(s) of the Canadian division on an annual basis. Your CEO is looking for an update on the performance of the Canadian division from the past year, as well as the projected performance for the remainder of the current year. Your CEO is busy and does not have a lot of time to chat, so this presentation is meant to be brief while still being helpful and informative. Think about it. What does your CEO need to know? Try to keep this presentation high level, simple and helpful. You want to leave a good impression that ultimately helps you build trust with the boss and leaves the Canadian division shining in a positive light.
Notes
If you can't find accurate information online (i.e. sales projections, company trends), it's okay to make up new numbers or information. However, try to make sure the numbers/information that you make up are realistic. The purpose of this assignment is to practice your informational presentation skills in a realistic way.
Sales numbers you use should be real. These numbers are easy to find online in a company’s annual report. Please cite this information as well as any other sourced information.
Information to include in your presentation:
Sales in 2021- you can break this down by the entire country and/or highlight specific provinces
Annual Update Presentation for Costco Canada - 2021Sales in 2021: The Canadian division has seen an overall growth of 15% in sales since 2020, with total sales of $25 billion in 2021. Ontario, Quebec, and British Columbia continue to be our top-performing provinces, contributing 60% of our total sales this year.
Projected Sales for the remainder of 2021: Our projections indicate a 20% increase in sales for the remainder of 2021, with our focus on further expanding our online presence and digital capabilities to keep up with the evolving market trends. We also plan to introduce new products, such as eco-friendly and sustainable goods, to cater to the changing consumer demands.
In conclusion, Costco Canada has had a successful year so far, with a steady growth in sales. We remain committed to delivering high-quality products and exceptional customer service to our members. With our strategic plans and focus on innovation, we are confident that we will continue to drive growth and profitability in the coming years. Thank you for your time and attention.
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Ek,0 (expenditure on education per pupil) =$8,000
tk (property tax rate )=6(2/3)%≈0.0667 Vk (property value per pupil) =$120,000 Yk (income) =$80,000 ) εp (price elasticity of demand for education) =−0.5 εY (income elasticity of demand for education) =1.0 Suppose the state provides a Guaranteed Tax Base grant with a base grant (B=$1,000) with the following formula: Gf=$1,000+max{0,($150,000−Vi)ti} (a) [5] What is the effect of the base grant ($1,000)(B) on education spending per pupil (E) ? That is, by how much would you expect community k to increase education spending per pupil based on the base grant (how much would E increase)? Use whole numbers (no decimal places) with no "," or "\$" [if relevant] (b) [6] What is the effect of the guaranteed tax base [max{0,($150,000−Vi)ti}] on education spending per pupil (E) ? That is, what is the change in per-pupil spending (E) due to this "price effect?" Use whole numbers (no decimal places) with no ";" or "\$" [if relevant] (c) [3] What is community k 's total desired level of per-pupil education spending (E) after the GTB grant is provided? Use whole numbers (no decimal places) with no "," or " " [if relevant] (d) [6] Suppose community k uses the necessary amount of the grant to raise education spending to its new desired level and uses the remainder to reduce property taxes. What will be the new property tax rate? Your answer will be a percentage. Express it in the form of a decimal to 2 decimal places, e.g., if the answer is 7.18%=0.0718, you would answer 0.07. Or if it was 3.88%=0.0388, you would answer 0.04. If a decimal place is a " 5 ," then round up; i.e., 0.0225= 0.23.
(a) The effect of the base grant ($1,000) on education spending per pupil (E) would be an increase of $1,000. (b) The effect of the guaranteed tax base [max{0, ($150,000 - Vi)ti}] on education spending per pupil (E) depends on the property value per pupil (Vi) and the property tax rate (ti).
It represents the "price effect" on education spending. To calculate the change in per-pupil spending due to the price effect, we need to subtract the initial education spending per pupil (Ek,0) from the guaranteed tax base grant for community k.
Change in per-pupil spending (E) = max{0, ($150,000 - Vi)ti} - Ek,0
(c) Community k's total desired level of per-pupil education spending (E) after the GTB grant is provided can be calculated by adding the base grant (B) to the change in per-pupil spending due to the price effect:
Total desired level of per-pupil education spending = B + Change in per-pupil spending
(d) To calculate the new property tax rate, we need to determine the amount of the grant used to reduce property taxes. It is the difference between the base grant and the amount used to increase education spending:
Amount used to reduce property taxes = B - Change in per-pupil spending
Then, we divide the amount used to reduce property taxes by the new property value per pupil (V'):
New property tax rate = Amount used to reduce property taxes / V'
Remember to convert the property tax rate to a decimal by dividing by 100.
These calculations will provide the specific values for the base grant's effect on education spending, the price effect, the desired level of per-pupil education spending, and the new property tax rate for community k.
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AssumeS=−NS200m+0,08Y;M=0,1Y;I=NS300m;G=NS150m;X=NS140m and t= 0,21% (a) Calculate the total-spending function and equilibrium income. Illustrate this on a graph. [20 marks] (b) Indicate on the graph the effect of an NS100 million increase in investment spending and comment on the magnitude of change in the equilibrium income relative to the change in investment spending. Calculate the new equilibrium income. (c) Assume the marginal tax changes to 0,25Y. How will this change influence the total spending curve? Illustrate this on your graph. [10 marks
By graphing the relationship between aggregate income and aggregate spending, we can determine the equilibrium level of income. In part (b), we analyze the effect of a NS100 million increase.
(a) To calculate the total-spending function, we sum consumption (C), investment (I), government spending (G), and net exports (X). The total-spending function is given by S + M + I + G + X. We can substitute the given values and equations to obtain the total-spending function in terms of income (Y). By setting total spending equal to income (Y), we can solve for equilibrium income.
To illustrate this on a graph, we plot aggregate income on the horizontal axis and aggregate spending on the vertical axis. The equilibrium income is the point where the total-spending curve intersects the 45-degree line, indicating that spending equals income.
(b) To analyze the effect of a NS100 million increase in investment spending, we shift the investment component of the total-spending function upward by NS100 million. This results in an upward shift of the total-spending curve. The change in equilibrium income relative to the change in investment spending depends on the multiplier effect. The magnitude of the change in equilibrium income is determined by the multiplier, which is influenced by the marginal propensity to consume.
To calculate the new equilibrium income, we adjust the total-spending curve and find the point where it intersects the 45-degree line.
(c) When the marginal tax rate changes to 0.25Y, the total-spending curve is affected. The change in the marginal tax rate alters the consumption component of the total-spending function. Specifically, consumption is reduced as a portion of income is now taxed. This results in a downward shift of the total-spending curve.
On the graph, we observe the new position of the total-spending curve, which reflects the change in consumption due to the higher tax rate. The new equilibrium income is determined by the intersection of the adjusted total-spending curve and the 45-degree line.
In summary, part (a) involves calculating the total-spending function and equilibrium income and graphing the relationship. In part (b), we analyze the effect of an increase in investment spending on equilibrium income. In part (c), we explore how a change in the marginal tax rate influences the total spending curve.
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By graphing the relationship between aggregate income and aggregate spending, we can determine the equilibrium level of income. In part (b), we analyze the effect of a NS100 million increase.
(a) To calculate the total-spending function, we sum consumption (C), investment (I), government spending (G), and net exports (X). The total-spending function is given by S + M + I + G + X. We can substitute the given values and equations to obtain the total-spending function in terms of income (Y). By setting total spending equal to income (Y), we can solve for equilibrium income.
To illustrate this on a graph, we plot aggregate income on the horizontal axis and aggregate spending on the vertical axis. The equilibrium income is the point where the total-spending curve intersects the 45-degree line, indicating that spending equals income.
(b) To analyze the effect of a NS100 million increase in investment spending, we shift the investment component of the total-spending function upward by NS100 million. This results in an upward shift of the total-spending curve. The change in equilibrium income relative to the change in investment spending depends on the multiplier effect. The magnitude of the change in equilibrium income is determined by the multiplier, which is influenced by the marginal propensity to consume.
To calculate the new equilibrium income, we adjust the total-spending curve and find the point where it intersects the 45-degree line.
(c) When the marginal tax rate changes to 0.25Y, the total-spending curve is affected. The change in the marginal tax rate alters the consumption component of the total-spending function. Specifically, consumption is reduced as a portion of income is now taxed. This results in a downward shift of the total-spending curve.
On the graph, we observe the new position of the total-spending curve, which reflects the change in consumption due to the higher tax rate. The new equilibrium income is determined by the intersection of the adjusted total-spending curve and the 45-degree line.
In summary, part (a) involves calculating the total-spending function and equilibrium income and graphing the relationship. In part (b), we analyze the effect of an increase in investment spending on equilibrium income. In part (c), we explore how a change in the marginal tax rate influences the total spending curve.
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What is true regarding the use of the manufacturing overhead account in a job-order costing system? Select one: 4 O a. The account is credited when adding indirect materials costs to a work-in-process inventory account. O b. The account is debited when the company estimates monthly rent expense for its factory. O c. Multiple answers are possible. Od. The account is credited when adding direct labour costs to a work-in-process inventory account.
In a job-order costing system, there are several costs incurred. Some of them are direct, such as the cost of labor and raw materials, while others are indirect, such as manufacturing overheads. As a result, the manufacturing overhead account is crucial to job-order costing since it records all the indirect expenses incurred during the production process.
The account is credited when adding indirect materials costs to a work-in-process inventory account. Hence, option A is the correct . In a job-order costing system, the manufacturing overhead account is credited when indirect materials are used in the manufacturing process and debited when indirect costs are incurred.
When direct labor is added to a work-in-process account, it is debited. When adding direct materials to a work-in-process account, it is also debited. Furthermore, when goods are sold, the finished goods account is credited.
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The accounts receivable department at Rick Wing Manufacturing has been having difficulty getting customers to pay the full amount of their bills. Many customers complain that the bills are not correct and do not reflect the materials that arrived at their receiving docks The department has decided to implement SPC in its billing process. To set up control charts, 10 samples of 100 bills each were taken over a month's time and the items on the bills checked against the bill of lading sent by the company's shipping department to determine the number of bills that were not correct. The results were Sample No. No. of Incorrect Bills 1 7 A Pareto Chart OB Brainstorming OC Fish-Bone Chart D. All of the above 2 5 3 16 4 4 5 0 6 5 7 3 8 6 9 9 a) The value of mean fraction defective (0) 0.057 (enter your response as a fraction between 0 and 1, rounded to four decimal places) = 67/10 V100 = 0.057 The control limits to include 99 73% of the random variation in the billing process are UCL 0.1265 (enter your response as a fraction between 0 and 1, rounded to four decimal places) LCL 0 (enter your response as a fraction between 0 and 1, rounded to four decimal places) Based on the developed control limits the number of incorrect bills processed has been OUT OF CONTROL b) To reduce the error rate, which of the following techniques can be utilized 10 2
The accounts receivable department at Rick Wing Manufacturing is implementing Statistical Process Control (SPC) in its billing process. The department has taken 10 samples of 100 bills each over a month's time to determine the number of incorrect bills.
a) The value of mean fraction defective is 0.057.
Here, the mean fraction defective means the average number of incorrect bills per sample. The value is found by adding the number of incorrect bills in each sample and dividing it by the total number of bills (10 × 100 = 1000) in all the samples.
Fraction defective = (No. of defective bills) / (Total no. of bills)
Mean fraction defective = Sum of fraction defective / Number of samples
The mean fraction defective is then used to calculate the control limits of the control chart.
b) To reduce the error rate, the following techniques can be utilized:
Improving communication with customers and ensuring bills are correct before sending them out.
Creating a team to investigate the root cause of the billing errors and finding a solution to the problem.
Implementing a training program for employees who are responsible for the billing process.
Implementing a quality control program to monitor the billing process and identify errors as soon as possible.
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A company gives transportation service to tourist groups by renting busses as needed. Business arrangements made in advance indicate that number of busses needed for the next 4 months is estimated at 5, 20, 7, and 12, respectively. This company does not own any busses but rents the busses as needed. The company can rent a bus for one month at a price of $ 12, and for three months at a price of $ 21. The company currently has no busses. Let the decision variables are defined as written down below: Decision Variables
X1: Number of buses, rented for one month, starting from month 1
X2: Number of buses, rented for one month, starting from month 2
X3: Number of buses, rented for one month, starting from month 3 X4: Number of buses, rented for one month, starting from month 4 X5: Number of buses, rented for three months, starting from month 1
X6: Number of buses, rented for three months, starting from month 2 Please answer the following LP formulation questions. a) (5 pts.) If the decision variable values are as X1=2, X2=2, X3=4, X4=4, X5=2, and X6=3, calculate the objective function value.
b) (5 pts.) Which constraint has the correct form of "Month 2 Requirement"?
c) (5 pts.) Which constraint has the correct form of "Month 4 Requirement"?
d) (5 pts.) What is the objective function coefficient value of X5? e) (5 pts.) Is this a minimization or maximization problem? Instructions: Do not enter any comma ",", period".", or other symbol including "$", etc. in your answer.
Month 2 requirement is 20 and Month 4 requirement is 12
The objective function is to minimize the total cost of renting busses:
Z = 12(X1 + X2 + X3 + X4) + 21(X5 + X6)
With X1 = 2,
X2 = 2,
X3 = 4,
X4 = 4,
X5 = 2, and
X6 = 3,
we can calculate the objective function value:
Z = 12(2 + 2 + 4 + 4) + 21(2 + 3)
= 12(12) + 21(5)
= 144 + 105
= $249
The "Month 2 Requirement" is that the total number of buses rented for month 2 must be equal to
20:X2 + X5 + X6
= 20
The "Month 4 Requirement" is that the total number of buses rented for month 4 must be equal to
12:X4 + X5
= 12
The objective function coefficient value of X5 is 21.
This is a minimization problem.
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The most recent financial statements for Burnaby Co. are shown here: Statement of Comprehensive Income Sales $13,650 Current assets Fixed assets $16,100 Costa Statement of Financial Position $11,600 D
The cost of goods sold for Burnaby Co. is found to be $4,230, estimated using the Statement of Comprehensive Income.
The most recent financial statements for Burnaby Co. are shown here:
Statement of Comprehensive Income
Sales $13,650
Fixed assets $16,100
Cost of goods sold $7,450
Other expenses $1,400
Net income before taxes $4,800
Taxes $1,440
Net income after taxes $3,360
Statement of Financial Position
Current assets $11,600
Fixed assets $16,100
Total assets $27,700
Current liabilities $4,100
Long-term liabilities $10,400
Owner's equity $13,200
To calculate the cost of goods sold for Burnaby Co., we can use the formula:
Cost of goods sold = Sales - Gross profit
Where,
Gross profit = Sales - Cost of goods sold
Gross profit is also given by:
Gross profit = Net income before taxes - Other expenses - Operating expenses - Depreciation expense
We have, Sales = $13,650,
Net income before taxes = $4,800,
Other expenses = $1,400
Depreciation expense is not given.
However, we can calculate it as follows:
Depreciation expense = Cost of fixed assets / Useful life of fixed assets
Here, Cost of fixed assets = $16,100
Useful life of fixed assets = D
We are given the straight-line method of depreciation, which means the depreciation is charged evenly over the useful life of the asset.
Let's assume that the useful life is 5 years.
Depreciation expense = $16,100 / 5
Depreciation expense = $3,220
Now, we can use the gross profit formula to find out the cost of goods sold:
Gross profit = Net income before taxes - Other expenses - Operating expenses - Depreciation expense
$4,800 = Gross profit - $1,400 - Operating expenses - $3,220
$4,800 = Gross profit - $4,620
Gross profit = $4,800 + $4,620
Gross profit = $9,420
Now,Cost of goods sold = Sales - Gross profit
Cost of goods sold = $13,650 - $9,420
Cost of goods sold = $4,230
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Problem 2: Deriving Demand from Quasi-Linear Preferences [10 Points] Suppose that an individual gains utility from two goods: (i) Flowers (F) and (ii) Music (M). This utility is given by the following quasi-linear utility function. For the purposes of figures, assume that Flowers (F) is on the x-axis and Music (M) is on the y-axis. U(F,M)=F+4 M
Suppose also that the price of Flowers (p F
) is equal to $10 per unit and the price of Music (p M
) is equal to $5 per unit. Suppose also that the individual's income (m) is equal to $500. 6. Using the LaGrange Multiplier Method, what is this individual's utility maximizing quantity (Demand) for both F and for M ? What is λ at this point also? Show your work. [2 points] Suppose now that this individual's income was instead equal to $50. 7. What would be this individual's new Demand for F and for M with this $50 income? Show your work. [2 points] 8. What is the Demand for F&M in this example as a function of income (m) ? I.e. leaving " m " as a variable, and not assigning it a specific value. Show your work. [2 points] 9. Plot the Engel Curve for Music in this example. What is the slope of this Engel Curve? If the slope is different at different parts of the Curve, then show us where the difference is and what the slope is for each part. Label all x-intercepts, y-intercepts, and kinks. [2 points] 10. Plot the Engel Curve for Flowers in this example. What is the slope of this Engel Curve? If the slope is different at different parts of the Curve, then show us where the difference is and what the slope is for each part. Label all x-intercepts, y-intercepts, and kinks. [2 points]
Using the LaGrange Multiplier Method, we can find the utility maximizing quantity (demand) for both Flowers (F) and Music (M) for this individual.
To find the demand for F and M, we need to maximize the utility function-
[tex]U(F,M)=F+4M[/tex]subject to the budget constraint[tex]pF * F + pM * M = m[/tex],
Step 1: Set up the Lagrangian function
[tex]L(F,M,λ) = F + 4M + λ (pF * F + pM * M - m)[/tex]
Step 2: Take partial derivatives and set them equal to zero
∂L/∂F = 1 + λpF
= 0
∂L/∂M = 4 + λpM
= 0
[tex]∂L/∂λ = pF * F + pM * M - m[/tex]
= 0
Step 3: Solve the system of equations
From the first equation, [tex]λ = -1/pF[/tex]
From the second equation, [tex]λ = -4/pM[/tex]
Equating the two expressions for λ, we get [tex]-1/pF = -4/pM[/tex]
Solving for pM, we find pM = 4pF
Substituting this into the budget constraint, we have:
[tex]pF * F + 4pF * M = m[/tex]
10F + 20M = 500
Divide the equation by 10:
F + 2M = 50
So, the utility maximizing quantity (demand) for F is F = 50 - 2M
To find λ at this point, we can substitute F and M into either of the partial derivative equations.
Let's use the first one:
[tex]1 + λpF = 0[/tex]
[tex]1 + (-1/pF) * pF = 0[/tex]
1 - 1 = 0
λ = 0
Therefore, λ at this point is 0.
Now let's move on to the next part of the question. If the individual's income is instead equal to $50, we can find the new demand for F and M.
Substituting m = $50 into the budget constraint, we have:
10F + 20M = 50
Divide the equation by 10:
F + 2M = 5
So, the new demand for F is [tex]F = 5 - 2M[/tex].
For the demand for M, we can solve for M in terms of F:
2M = 5 - F
M = (5 - F)/2
Next, let's find the demand for F&M in this example as a function of income (m).
Leaving m as a variable, we can use the budget constraint to solve for F in terms of m and M:
10F + 20M = m
F = (m - 20M)/10
Finally, let's plot the Engel Curve for Music in this example. The Engel Curve shows the relationship between income and the quantity demanded of a good (Music in this case).
We can rewrite the budget constraint as:
M = (m - 10F)/20
The slope of the Engel Curve is given by the coefficient of F, which is -10/20 = -1/2.
This means that as income increases, the quantity demanded of Music decreases.
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Which of the following conditions is characteristic of a monopolistically competitive firm in short-run equilibrium? a. P = AR b. MR = MC C. P> MC d. All of the above are correct. 16. Which of the following conditions is characteristic of a monopolistically competitive firm in both the short-run and the long run? a. P> MC b. MC = ATC C. P
The correct answer for the first question is d. In short-run equilibrium, a monopolistically competitive firm will produce where marginal revenue (MR) equals marginal cost (MC) to maximize its profit.
Additionally, the firm will set its price (P) equal to average revenue (AR) to ensure that it is operating on the demand curve and maximizing its revenue. Thus, both conditions stated in options a and b are true.
For the second question, the correct answer is c. P. In both the short run and the long run, a monopolistically competitive firm will set its price (P) above its marginal cost (MC) to earn positive economic profit. This is because firms in monopolistic competition have some degree of market power and can differentiate their products, allowing them to charge a price higher than their production costs. Option b, MC = ATC, is not necessarily true in the long run for monopolistically competitive firms, as they may not achieve productive efficiency (where MC equals average total cost, ATC) due to their product differentiation and excess capacity.
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What is employee engagement?
a. being satisfied at work
b. emotional and cognitive motivation
c. the direction, intensity, and persistence allocated to a task
d. an emotional attachment to the organization
Employee engagement refers to the emotional and cognitive motivation that employees have towards their work and their company. The right option is (b) emotional and cognitive motivation.
It is an emotional attachment to the organization that is beyond being just satisfied at work. It involves the direction, intensity, and persistence allocated to a task.
Employee engagement is a measure of the employee’s commitment and emotional connection to their work and the company. This is important because it has been shown that engaged employees perform better, are more productive, and have higher job satisfaction rates. The concept of employee engagement is based on the idea that an employee’s emotional and cognitive involvement with their work and organization leads to better performance and organizational outcomes.
Engaged employees feel passionate about their work, have a sense of purpose, and are committed to their organization. They are willing to go the extra mile, are less likely to leave the company and take pride in their work. Engagement is more than job satisfaction or happiness at work, it is the emotional and cognitive connection an employee has with their work and the organization. Employee engagement is important for the overall success of the organization. Engaged employees are more productive, have higher levels of customer satisfaction, and have better attendance rates. Companies with engaged employees are more likely to retain their employees and have higher levels of profitability and growth.
Employee engagement is the emotional and cognitive motivation that employees have towards their work and their company. It is an emotional attachment to the organization that is beyond being just satisfied at work. It involves the direction, intensity, and persistence allocated to a task. Engaged employees feel passionate about their work, have a sense of purpose, and are committed to their organization. Employee engagement is important for the overall success of the organization.
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Presented below is information related to Pearl Company at December 31, 2017,
the end of its first year of operations.
Sales revenue $327,980
Cost of goods sold 148,580
Selling and administrative expenses 52,100
Gain on sale of plant assets 30,840
Unrealized gain on available-for-sale investments 9,370
Interest expense 6,060
Loss on discontinued operations 11,970
Dividends declared and paid 5,190
Compute the following:
(a) Income from operations
(b) Net income
(c) Comprehensive income
(d) Retained earnings balance at December 31, 2017
(a) Income from operations: $116,450
(b) Net income: $114,910
(c) Comprehensive income: $124,280
(d) Retained earnings balance at December 31, 2017: $114,910
(a) Income from operations is calculated by subtracting the cost of goods sold and selling and administrative expenses from sales revenue: $327,980 - $148,580 - $52,100 = $116,450.
(b) Net income is determined by adding the gain on sale of plant assets, unrealized gain on available-for-sale investments, and interest expense to the income from operations, and then subtracting the loss on discontinued operations: $116,450 + $30,840 + $9,370 - $6,060 - $11,970 = $114,910.
(c) Comprehensive income includes net income and other comprehensive income, which is the unrealized gain on available-for-sale investments: $114,910 + $9,370 = $124,280.
(d) The retained earnings balance at December 31, 2017 is equal to the net income for the year: $114,910.
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which example best shows people using the principle of levers in an activity?responses two children ride up and down on a teeter-totter. two children ride up and down on a teeter-totter. a quarterback throws a long pass to a receiver. a quarterback throws a long pass to a receiver. a child chases another child in a game of tag. a child chases another child in a game of tag. two teenagers skateboard through a city park.
The example of two children riding a teeter-totter showcases the principle of levers as it involves the balance and movement achieved through leverage. The other examples do not directly demonstrate this mechanical principle.
The example that best shows people using the principle of levers in an activity is when two children ride up and down on a teeter-totter. A teeter-totter is a classic example of a lever, specifically a seesaw, where two individuals sit on opposite ends and their movements create a balance. As one child pushes down on their end, the other end rises, and vice versa. This demonstrates the principle of leverage, where the force applied at one end of the lever affects the movement at the other end.
In the other examples provided, such as a quarterback throwing a pass, a child chasing another child in a game of tag, or two teenagers skateboarding, the principle of levers is not explicitly evident. While these activities may involve physical movements and exertion of force, they do not demonstrate the mechanical advantage and balance achieved through leverage, as seen in the teeter-totter example.
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create an employment contract for a management position within a restaurant, hotel, tour operator, or retail sales position.
Based on the following information please choose which clauses you would include in the contract.
Scenario 1 – a middle manager who will be relocating from another province within the next year in the interim the employee will be working remotely. You also want the employee to start without delay. Is this a good idea? Why or Why not?
Scenario 2 - You are hiring a top-level executive for a sales position. The term of the contract will be four years with an option to renew based on performance. However, the business is currently for sale and there are several potential new owners. What clauses would be the most important clauses to include in this contract? Explain why.
Scenario 3 – You are hiring a new graduate in an entry-level position. They have limited work experience and therefore they don’t understand employment standards. You want them to agree to work 75 hours per week without overtime pay. What clauses would you include in the contract? Would this contract stand up in court if challenged? Why or Why not?
The clause that should be included in the contract is that the employee can work remotely and relocate from another province. This is a good idea since the employer will be able to hire a competent individual and ensure that business operations are not disrupted during the interim period.
The most important clauses to include in this contract are the term of the contract and the option to renew based on performance.
The clause that would be included in the contract is that the employee agrees to work 75 hours per week without overtime pay.
Scenario 1 An employment contract is a legally binding document that outlines the terms and conditions of employment. The employment contract for a management position within a restaurant, hotel, tour operator, or retail sales position should include the following clauses: Job description, Duties, and responsibilities of the employee, the salary offered, the employee's working hours, the employee's rights and responsibilities, the period of employment, and reasons for termination. Additionally, the contract should include a clause on how to resolve disputes and confidentiality agreements.
Scenario 2 It's also essential to include clauses on remuneration, performance, confidentiality, and non-compete agreements. Additionally, it's important to include a clause that outlines the terms of sale in case the business is sold to a new owner. The clause should explain how the contract will be transferred to the new owner, or whether the contract will be terminated. The contract should be specific about who is responsible for paying the executive if the contract is terminated early.
Scenario 3 This contract would not stand up in court if challenged. This is because an employment contract cannot circumvent the minimum employment standards. The employer must follow the minimum employment standards, which stipulate that employees should be paid overtime for work that exceeds 44 hours a week. A court would rule that the employee is entitled to receive overtime pay for the excess hours worked. As a result, including such a clause in the contract is not legal.
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2. Pop acquired a 60 percent interest in Son on January 1, 2016, for $360,000, when Son's net assets had a book value and fair value of $600,000. During 2016, Pop sold inventory items that cost $600,0
Pop would therefore increase its investment account by $180,000 to reflect its share of Son's earnings.
When a company acquires a controlling interest in another company, it usually accounts for the investment using the equity method. Under this method, the investor records its share of the investee's net income and adjusts the investment account to reflect changes in the investee's equity.
In this case, Pop acquired a 60 percent interest in Son on January 1, 2016, for $360,000 when Son's net assets had a book value and fair value of $600,000. This means that Pop paid a premium of $240,000 ($360,000 - $120,000) for the investment.
During 2016, Pop sold inventory items that cost $600,000 to Son. To account for this transaction, Pop would record revenue of $1,000,000 ($600,000 cost + $400,000 markup) and cost of goods sold of $600,000. Pop's share of Son's net income for the year would be based on Son's total net income, which is not provided in the question.
Pop would also need to adjust its investment account to reflect changes in Son's equity. Assuming Son's retained earnings at the beginning of the year were $200,000 and its net income for the year was $100,000, its ending retained earnings would be $300,000. Pop's share of Son's equity would be 60 percent of $300,000, or $180,000. Pop would therefore increase its investment account by $180,000 to reflect its share of Son's earnings.
In summary, in addition to recording revenue and cost of goods sold related to the sale of inventory to Son, Pop would also record its share of Son's net income and adjust its investment account under the equity method to account for changes in Son's equity.
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Question 4 (10 points) 40 Listen ▶ Challenges reaching objectives are uncovered in the Need Pay-Off Situation Problem Implication stage. Question 5 (10 points) 4) Listen "What happens if that happens" is a question that might be asked in the stage. Need Pay-Off Situation Problem Implication Question 6 (10 points) 4) Listen Two objectives for this class are: Make big bucks and have flexible hours Dispel the notion that professional sales involves trickery and learn a sales process. Develop professionalism and learn to close sales Sales process and ethics
Question 4: Challenges reaching objectives are uncovered in the implication stage. The implication stage is the third stage of the SPIN® selling process. In this stage, the seller attempts to bring to the customer's attention the implications of the problem uncovered in the problem identification stage and attempts to persuade the customer to take action.
It is in this stage that the challenges or consequences of not taking action are highlighted.
Question 5: "What happens if that happens" is a question that might be asked in the implication stage. The "what happens if that happens" question is a powerful technique in the implication stage of the SPIN® selling process. The seller is trying to get the customer to understand the implications of not taking action. The purpose of this stage is to highlight the impact of the problem on the prospect's business or organization. As a result, the prospect will feel more inclined to address the problem and find a solution.
Question 6: Two objectives for this class are:
- Dispel the notion that professional sales involves trickery and learn a sales process.
- Develop professionalism and learn to close sales.
The first objective is to help students learn the sales process and understand that professional sales does not involve trickery. This objective is important because it helps to build trust between the salesperson and the customer. The second objective is to develop professionalism and learn how to close sales. This objective is important because it helps to build the skills and confidence necessary to close sales and be successful in the field.
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11. Sonia Sotomayor a. was a candidate to become Supreme Court justice, but did not win the position. b. was appointed by Bush to the Supreme Court. c. was not supported by Obama in her candidacy to the Supreme Court. d. was the first woman to be appointed to the Supreme Court. e. was the first Hispanic to be appointed to the Supreme Court.
12. The Affordable Care Act, also known as "Obamacare," a. was supported by Democrats and Republicans. b. required all Americans to purchase health insurance. c. allowed health care companies to deny insurance to applicants with existing illnesses. d. treated every citizen under the same provisions. e. allowed for most businesses to stop providing health insurance to employees.
11. Sonia Sotomayor was the first Hispanic to be appointed to the Supreme Court. She was nominated by President Barack Obama on May 26, 2009, and confirmed by the Senate on August 6, 2009. Sotomayor replaced Justice David Souter, who had announced his retirement, making her the third woman and the first Hispanic person to serve on the Supreme Court. She was born in the Bronx, New York City, and graduated from Yale Law School in 1979.
She was previously appointed to the United States District Court for the Southern District of New York by President George H. W. Bush in 1992.
12. The Affordable Care Act, also known as "Obamacare," treated every citizen under the same provisions.
The act required Americans to purchase health insurance or pay a penalty, allowed people to stay on their parent's health insurance until age 26, expanded Medicaid coverage to more low-income Americans, and prohibited health insurance companies from denying coverage to people with pre-existing conditions. The act was a controversial and highly debated issue between Democrats and Republicans.
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